The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-12-08
THE TREASURY.
Report Of Secretary FairChild,
A Total Surplus of sso,o2s, $50 in
the Nations Vaults.
1t Will Possibly Amount TO $l4o,-
100000 by June Next.
Immediate Reduction of This Enor-
nous Surplus Necessary.
The Secretary Recommends, Like tho
President, the Immediate Reduce
tlon OF the Tariff on the Noces-
sarles OF Life,

WASHINGTON, Dec. The Secretary
OF the Treasury, in his annual report sub
mittcd TO Congress today, says that the
total ordinary receipts OF the government
during the year ending June 30, 1887,
were S37l, i03,277, and that the total
ordinary expenses were S3l5, $50, i2S, lcav-
ing a surplus of $50, $40, which, with
an amount drawn from the cash balance
in the treasury of S2l, 40, go, makes u
total surplus Of $50, 023, $40, which was Of
ierrcd TO the redemption OF bonds. The
receipts for the year show an increase OF
SA, 063, $50 over the year before, and the
expenditures show an increase of S95, 40, o.
OIL. For the present year the revenues
arr estimated at S3S3, 600, 900 aud tho Cx-
penditurcs at S3l6,SlI7S5, leaving an
estimated surplus OF 800, 1872, Oh on juno
80, 1883. The Secretary estimates the sur
plus for the year 1889 at $50, 400, POO.
In regard to the surplus revenue, the
Secretary says Taxation and currency
reform were the questions which my dis
tinguished predecessor deemed TO be OF
most pressing importance, and 10 them he
devoted large part OF the two annual no
ports which lac made To the Congress. In
those reports he stated his honest conyiC-
tons with yigor aud boldncss which, to-
gcthcr with the ability and fairness that
he showed in the general management Of
this department have given him u high
place among statesmen and iinlncicrs. |
find the same subjects Ia be still the most
important Of all those 10 which Il Is my
duty 10 call your attention, and Il is not
necessary 20 do otherwise than follow the
general lines laid down hy him in treating
them. Circumstances have heightened
the immediate urgency of taxation reform
rs affecting the surplus revenues of the
government. The urgency is ~ great that
the question OF surplus revenues demands
the earnest attention Of both the legislative
aud executive branches OF tho govern
mcnt."
The Secretary then gives the following
ways In which the receipts aud cxpcndi
lures OF the government may he mad,
about equal;
ing debt OF the government
.. larger expenditures by the gov
eminent for other purpose than the
purchase OF bonds, SO that they shall each
year equal the taxation ol that year.
3. Reduction OF the revenue from
taxation 10 the amount actually required
Ia meet necessary expenses
"All Of these cNpcdicnts,' the report
preventing the arrangement 10 business
which must follow boarding or locking up
in the treasury the circulating medium Of
the people"
Ia regard 10 the iint plan the Secretary
agrees with the President in his message
on the same subject.
lie then says. II cannot believe that II
will adopt the second cNpcdicnt, viz: the
enlargement oi government expenses sim
ply Ia cXpcnd money raised 10y taxation,
when the public veal docs not otherwise
call Tor the expenditure.
"Rcduction Of the revenue from taxa
ton Is the only it remedy for the evils
which threaten the country. This may be-
accomplished IN various ways.
conc il Ia reduce or abolish internal
revenue taxation. In favor of this II the
fact that in a small part ol the southern
States the internal tax ON liquors aud to
bacro II thought to be- oppressive and is
odiOus 30 the people oi those regions and
the further fact that hy H. reduction the
expenses OF its collection might Do some.
what reduced.
"Tho chici cause fur the prejudice against
this tax seems to hc that ng there WIS no
such tax before the war Tor the Union, 10
il looked upon ~ q reminder of the meas.
urcH adopted to raise money a. carry on the
war, aud which ought not t0 be- continued
in timcoi peace, and us interfering In some
way with the natural rights oi mankind a.
grow grain and tobacco aud manufacture
thcrclfom spirits, cipn, snuff and the
various forms Oi merchandise tobacco.
OF course taxation oi whisky aud tobacco
trcspnsscs no more upon the natural
rights II man than docs the taxa
ton Of bis clothing, Of his bedding,
ofcycry implement which lac uses la tho
cultivation VI his grain aud tobacco aud In
the distillati0n NJ Manufacture Of the same.
The burden Of the one tax b. direct, known,
fixed, and the whole oi IL goes into the
governments treasury; the burden Of the
other Is indirect and unknown, and only u
portion Of Il comes into the treasury. II
reaches the farmer or di-tillor, increased
by the profit upon ITSELF which every mor-
chant must take ~ the clothing or tools
pass through his hands on their journey 10
them from the foreign or domestic manu-
iacturcr. Taxation there must be-. Choice
II between the kinds oi taxation. Each
man can decide for himself, II lac will cx-
anime the subject free from prejudice,
which IL the least burdcnsOmc Tor him, iur
his family and for his ncighbon, aud
which IL IN the end better for his whole
country. That internal taxation Of spirits
and tobacco began during the war Il not
a reason why Il should DO done away with
now, II II bc IN itself wise. So the fact that
the rates Of the customs taxations
were raised during tho Sumo war
far higher than ever before IN
our history, and have been continued un-
I'll now, ought not 10 determine the man.
ncr Of their treatment; this should rather
depend upon what is just aud cXpcdiont
nj the present time. Neither passion, pref.
udce nor scntimcntality should have
place In the consideration Of questions Of
taxation. As 10 tho expense OF collecting
the internal revenue, ! suggest that an
amnlgnmati0n NJ the customs and internal
revenue systems Is entirely feasible, and
that thereby large number OF Offices
might be abolished, aud that the expense
Of the whole system might be made not 10
exceed that Of an efficient enforcement oI
the customs laws. ! earnestly commend
this SUGGESTION " tue careful consideration